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by: Samantha
GPA 3.2
Intermediate Economics II
Tom Fitzgibbon

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About this Document

Intermediate Economics II
Tom Fitzgibbon
One Day of Notes
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This 19 page One Day of Notes was uploaded by Samantha on Tuesday January 20, 2015. The One Day of Notes belongs to AC 311 at University of Alabama - Tuscaloosa taught by Tom Fitzgibbon in Fall. Since its upload, it has received 131 views. For similar materials see Intermediate Economics II in Accounting at University of Alabama - Tuscaloosa.


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Date Created: 01/20/15
THE UNIVERSITY CH ALABAMA OM 300 Operations Management Spring 2015 Review for Final Exam THE UNIVERSITY CH ALABAMA FINAL Exam OM300001 amp 002 0 Final Exam Normal Room Thursday 430 330 600 PMSection 001 Friday 51 800 AM 1030 AMSection 002 1 page of notes on 1 side of an 812 X 11 sheet of paper will be collected 2 pencils Calculator not one on your phone Multiple choice questions 40 Formula Sheet is posted on Blackboard will be included in your test packet THE UNIVERSITY EH ALABAMA Topics 0 Chap 4 Forecasting 0 Chap 12 Inventory Management 0 Chap 10 Job Design amp Work Measurement 0 Chap 16 JITLean THE UNIVERSITY ALABAMA Outline Chapter 4 Forecasting o Forecasting Steps 0 Forecasting Methods 0 Measures of Forecast Error MADMSETS 0 Time Series Models Naive MA etc o Forecasting Trend and Seasonality o HW red calculations THE UNIVERSITY CH ALABAMA Chapter 12 Inventory Management I Types of inventories I Inventory management issues and decisions I Cycle Counting I Inventory costs I Inventory control systems and policies I Determining EOQ ROP and SS I Periodic Review systems I Single Period Newsboy Problem I HW amp Video THE UNIVERSITY CH ALABAMA Chapter 10 Job Design amp Work Measuremen 0 Methods analysis 0 Work measurement 0 Work sampling 0 Developing standard times 0 Number of observations calculations 0 How to use work standard 0 HW amp Video THE UNIVERSITY EH ALABAMA Chapter 16 J IT Lean 0 Core beliefs of the J IT philosophy 0 Waste in JIT 0 Role of people in J IT 0 Understand functional impact of J IT on all areas 0 Kanban calculation 0 SS THE UNIVERSITY ALABAMA Sample Test Questions 0 Which of the following is not considered to be one of the four basic patterns of time series data a Trend b Seasonality c Cyclical THE UNIVERSITY ALABAMA Sample Test Questions o What are purchased items or extracted materials that Will be transformed into components or products called a work in process inventory b finished goods inventory d distribution inventory e MRO inventory THE UNIVERSITY EH ALABAMA Sample Test Questions 0 Consider the demand data listed below What is the 4month moving average forecast for June Month Actual Demand Jan 10000 Feb 12000 Mar 24000 Apr 8000 May 14000 a 14000 b Not enough information is given to answer the question d 13500 6 15333 10 Sample Test Questions THE UNIVERSITY CH ALABAMA o J IT considers waste anything that a Fits in a waste basket b Reduces production capacity c Has been discarded d Cannot be recycled 11 KHEKW Sample Test Questions o For the basic EOQ model What is the formula for the total annual cost a 2Qs DQH c QDS Q2H d DQS ZQH e QD2 Q2S 12 THE UNIVERSITY CH ALABAMA Sample Test Questions o If annual demand is 48000 units orders are placed in quantities of 2000 units at a time and the cost to place an order is 80 What is the annual ordering cost 160000 80 4160 Cannot determine 990quot 13 THE UNIVERSITY ALABAMA Sample Test Questions c Having waiters cook and having the cooks wait on tables is an example of a job enlargement c job enrichment 1 job involvement e job enhancement 14 THE UNIVERSITY EH ALABAMA Sample Test Questions 0 Consider a workstation that can process 4000 units per hour It takes 15 minutes to receive an order from the previous station The container size is 20 units The factory sets safety stock at 20 percent of demand during lead time How many kanbans are needed for the workstation a 16 b D demand rate at the DT S withdraw station c 50 N C d 10 S safety stock N number of containers T lead time from supply station 15 THE UNIVERSITY ALABAMA Sample Test Questions o What does work measurement determine b what is the best way to do a job 0 who is the best worker d where work should be done e why a particular step must be included in an operation 16 THE UNIVERSITY ALABAMA Sample Test Questions o What is a technique for estimating the proportion of time an employee or machine spends on different work activities a predetermined time data b time elements c stopwatch time study e simultaneous motion study 17 THE UNIVERSITY ALABAMA Sample Test Questions o The objective of quality at the source is not only to identify a quality problem but also K a Determine its extent c Rate its seriousness 1 Place blame e Categorize it 18 THE UNIVERSITY CH ALABAMA 0 Office hours during Finals Week 92 Monday and Tuesday 91 1 30 Wednesday gtgt 93 Thursday 0 See you for the final and GD LUCK T ALL 19


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